Budweiser back with a bang after ringing changes to IPO

By Jonathan Breen

19 Sep 2019

Budweiser Brewing Company Apac has revived its Hong Kong IPO two months after a headline-grabbing flop. But a smaller target size, a stamp of approval from a high-profile cornerstone investor and the off-loading of an unattractive chunk of its business all mean that the firm has a better chance of success this time around. Jonathan Breen reports.

The Asian business of the world’s largest brewer AB InBev started bookbuilding for its HK$37.8bn ($4.83bn) listing on Wednesday morning in Hong Kong SAR through sponsors JP Morgan and Morgan Stanley.

From the get-go, things have been looking good, said multiple senior bankers working on the transaction. There
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